Teva Pharmaceutical Industries (NYSE:TEVA) Reaches New 1-Year High on Analyst Upgrade

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) reached a new 52-week high on Monday after Piper Sandler raised their price target on the stock from $30.00 to $40.00. Piper Sandler currently has an overweight rating on the stock. Teva Pharmaceutical Industries traded as high as $30.98 and last traded at $30.9730, with a volume of 1205448 shares trading hands. The stock had previously closed at $30.35.

TEVA has been the subject of a number of other research reports. The Goldman Sachs Group raised their target price on Teva Pharmaceutical Industries from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday. UBS Group raised their price objective on Teva Pharmaceutical Industries from $23.00 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Barclays began coverage on shares of Teva Pharmaceutical Industries in a research report on Tuesday, December 9th. They issued an “overweight” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. lifted their price target on shares of Teva Pharmaceutical Industries from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Teva Pharmaceutical Industries in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $32.88.

Insider Activity

In other Teva Pharmaceutical Industries news, VP Richard Daniell sold 115,468 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $28.68, for a total value of $3,311,622.24. Following the completion of the transaction, the vice president owned 48,384 shares of the company’s stock, valued at approximately $1,387,653.12. The trade was a 70.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amir Weiss sold 12,300 shares of Teva Pharmaceutical Industries stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $30.20, for a total transaction of $371,460.00. Following the completion of the sale, the chief accounting officer owned 5,650 shares of the company’s stock, valued at $170,630. This represents a 68.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 622,060 shares of company stock worth $17,076,965 over the last three months. 0.55% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Teva Pharmaceutical Industries

A number of hedge funds have recently modified their holdings of TEVA. Advisors Asset Management Inc. purchased a new position in shares of Teva Pharmaceutical Industries in the second quarter worth $41,000. Cromwell Holdings LLC grew its position in shares of Teva Pharmaceutical Industries by 40.3% during the third quarter. Cromwell Holdings LLC now owns 2,191 shares of the company’s stock valued at $44,000 after purchasing an additional 629 shares in the last quarter. Sound Income Strategies LLC increased its holdings in shares of Teva Pharmaceutical Industries by 3,715.8% in the second quarter. Sound Income Strategies LLC now owns 2,900 shares of the company’s stock worth $49,000 after purchasing an additional 2,824 shares during the last quarter. MAI Capital Management increased its holdings in shares of Teva Pharmaceutical Industries by 26.8% in the second quarter. MAI Capital Management now owns 3,293 shares of the company’s stock worth $55,000 after purchasing an additional 697 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of Teva Pharmaceutical Industries by 97.0% in the third quarter. Rothschild Investment LLC now owns 2,738 shares of the company’s stock worth $55,000 after buying an additional 1,348 shares in the last quarter. Institutional investors own 54.05% of the company’s stock.

Teva Pharmaceutical Industries Stock Performance

The business has a 50 day moving average of $24.44 and a 200 day moving average of $20.08. The company has a market capitalization of $35.55 billion, a P/E ratio of 51.62, a price-to-earnings-growth ratio of 1.81 and a beta of 0.67. The company has a quick ratio of 0.82, a current ratio of 1.11 and a debt-to-equity ratio of 2.31.

About Teva Pharmaceutical Industries

Teva Pharmaceutical Industries Ltd. (NYSE:TEVA) is an Israeli multinational pharmaceutical company and one of the world’s largest manufacturers of generic medicines. The company’s core activities include the development, production and marketing of generic pharmaceuticals alongside a portfolio of specialty branded medicines. Teva supplies finished dosage forms and active pharmaceutical ingredients (APIs) to markets around the globe and operates manufacturing and research facilities in multiple countries.

Teva’s product range covers oral solids, injectables, inhalation products and other dosage forms across therapeutic areas such as central nervous system disorders, respiratory, oncology, pain and infectious disease.